NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

I've been looking into consumption trends and noticed a double standard; while reported numbers look good, many people on the ground say consumption has dropped in the last few months across various sectors like travel, fashion, and eCommerce.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The Indian market is still largely unbranded, especially in fashion, beauty, and home decor, which presents a significant opportunity for new brands.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Building a brand in India now can be done more efficiently; for around 140-150 rupees, you can reach a vast number of PIN codes, making distribution easier than before.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Brand building is increasingly happening online, with eCommerce accounting for about 10-11% of fashion sales, and this is expected to grow significantly.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

In India, it's easy to start a brand but very hard to scale it. Scaling requires efficiency in performance marketing, sourcing, and design after achieving product-market fit.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

When starting a brand, it's crucial to identify the intricacies of the market and understand where the black holes are that need to be filled.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

My experience in scaling a detergent brand taught me the importance of market development and product development, which can lead to significant growth in a short time.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The transition from solid to liquid products in the detergent market has been a significant trend, indicating consumer preferences are shifting towards convenience and quality.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

To build a successful brand, focus on understanding market gaps by analyzing search data; this can reveal what consumers are looking for but not finding.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

In the current market, leveraging technology and data can help build consumer brands more efficiently, allowing for better decision-making and product development.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

I believe in investing in fewer people for marketing rather than trying to reach everyone; this focused approach can yield better results.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Whim was our biggest competitor in the dishwash gels market, but I can advertise more effectively in my local area with a smaller budget.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

If I have only 10,000 rupees to promote in one colony, I'll be seen by everyone in that colony, while a larger brand may not reach those specific households.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

When starting a new brand, being a big fish in a small pond is better than being a small fish in the sea; focus on a niche market.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Using unconventional advertising methods, like no-parking signs, can effectively promote your brand in tier two and tier three cities.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

I scaled my social media following from 50,000 to 300,000 in three months by analyzing top brands and creating relevant content.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

To build a personal brand, create content that helps others grow, as they will become your promoters.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Brands should align their content with what platforms want to promote to gain visibility and engagement.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

When creating content, focus on making it shareable and engaging rather than just branded; prioritize shares and saves over likes and views.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

In today's world, building a social media following is crucial for anyone starting a brand from scratch.

KB

Kishore Biyani

10/07/23

@ Nikhil Kamath

The formalization of the economy is leading to higher costs for consumers, impacting their purchasing behavior.

KB

Kishore Biyani

10/07/23

@ Nikhil Kamath

The consumption patterns in India are shifting towards healthier options, with products like peanut butter gaining popularity.

KB

Kishore Biyani

10/07/23

@ Nikhil Kamath

The top 30 million households in India contribute to 60% of the country's consumption, indicating a concentrated market for brands.

KB

Kishore Biyani

10/07/23

@ Nikhil Kamath

Value-added consumption is primarily seen in a smaller segment of the population, which is crucial for brand growth.

KB

Kishore Biyani

10/07/23

@ Nikhil Kamath

The trend of premiumization is evident as consumers are willing to spend more on quality products, especially among the younger generation.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Brands need to focus on storytelling to connect with consumers and build a strong brand identity.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Luxury brands often market to those who cannot afford them, creating a desire that drives sales among aspirational consumers.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The market in India for quiet luxury is still evolving, and the concept isn't fully established yet.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

People in India who have achieved a certain status may not feel the need to showcase their wealth through expensive purchases, but they still spend significantly on luxury items.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Signaling value is important; people often buy expensive items to convey a certain image or status to their peers.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The way people signal their status can vary; some do it through appearance, while others use stories or experiences to convey their worth.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The concept of quiet luxury involves purchasing high-end items that appear understated, allowing individuals to signal their wealth discreetly.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Community-based brand building is becoming increasingly important, as trust within a community can drive brand loyalty and influence purchasing decisions.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Content creation is essential for building a community around a brand, as it fosters culture and influences consumer behavior.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The point of sale is shifting; consumers are influenced by content they see online, making it crucial for brands to engage with their audience through digital platforms.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

For the first 20 crores, prioritize product-driven growth through word of mouth and community engagement rather than relying solely on performance marketing.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

To grow a brand from 0 to 20 crores, focus on product quality, community engagement, and effective distribution strategies.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Building a brand requires understanding the market and having a unique value proposition to stand out in a crowded space.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

To start a t-shirt brand, research the market on platforms like Amazon to understand competition and identify a unique angle.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Registering as a seller on Amazon is straightforward, requiring a GST number and company registration, making it easier to enter the market. I used to buy products from IndiaMart and sell them on Amazon as a side hustle, making significant profits from items like vegetable choppers.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Finding a manufacturer for t-shirts can be done through online platforms like India Mart, where you can compare options and quality.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

When starting a brand, ask yourself what your strengths are, whether it's sourcing products cheaply, building a community, or unique design.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

There are three types of strengths to consider when building a brand: brand building and content, sourcing, and unique innovation and design.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

To grow a brand, it's crucial to identify where your ideal customers spend their time and how to reach them effectively.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

A pizza company successfully used a growth hack by advertising on dating apps, offering discounts to users who shared their number quickly.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

If you want to start a t-shirt company, consider how to differentiate your product or create a unique selling proposition.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

When launching a product, think about what additional products you can offer to customers who already use your main product.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

To build a brand, you need to find a unique angle or story that resonates with consumers, as seen with brands like 'The Good Bug' for gut health.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

In a cluttered market, brands can either aspire to be better or educate consumers about their product's efficacy to stand out.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

Building a brand in a niche market is essential; you need to become the big fish in a small pond before expanding.

RS

Raj Shamani

10/07/23

@ Nikhil Kamath

There's a significant opportunity in creating brands for specific communities, such as gamers or pet owners, who have unique needs and preferences.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

There's a huge opportunity in children's clothing and accessories, as there aren't many large brands in this market.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

When starting a fashion brand, it's better to begin with 60 to 70 options across sizes, rather than a larger inventory, to manage effectively.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

In the digital world, width in product offerings is valued more than depth due to the lack of shelf space limitations.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Designing for fast turnaround is crucial in fashion, allowing for quicker product updates and inventory management.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

For beauty brands, starting with 5 to 10 SKUs is sufficient, as they require less variety compared to fashion brands.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Using machine learning for demand forecasting can significantly improve inventory management and reduce wastage in fashion.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Pricing strategies in fashion should be data-driven, utilizing algorithms to determine optimal pricing based on inventory levels.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Returns in online shopping can significantly impact business economics, especially in fashion, where 30% of products may be returned.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Building a brand in fashion requires careful consideration of fit and return policies to minimize losses from returns.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

When choosing a celebrity or influencer for brand partnerships, it's important to select those at a tipping point in their career for maximum growth potential.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The ideal influencer for a brand should have the potential for significant growth in their following, rather than just a large current following.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

To scale a brand, first assess if the creator understands the science behind their craft, such as how to spread their music effectively.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Look for signs of established brands investing in the creator, as this can amplify their influence and reach.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Every creator embodies an emotion in their story, which can be leveraged to align with the brand you're building.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

It's crucial to determine if the creator genuinely wants to build a brand with you, rather than just treating it as a one-time endorsement.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

When selecting a celebrity partner, prioritize those who are not asking for upfront payment but are willing to share equity instead.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Choose partners who resonate with a specific emotion or narrative that aligns with your brand's identity.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Ensure that there is a community creating content around the influencer, as this indicates their popularity and engagement.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The influencer should be able to create organic content that feels authentic and not overly promotional for the product.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Understanding the engagement level of followers is crucial for building a lasting brand, as seen with successful influencers.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

To build a brand, it's essential to recognize and adapt to changing consumer trends and preferences in the market.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

When starting a brand, focus on creating a unique product that addresses a specific consumer need or trend.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

In the fashion industry, it's important to differentiate your brand through unique designs and a clear value proposition.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The men's beauty market is growing, and there's a significant opportunity to create products that cater to men's grooming needs.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

To overcome stigma, package men's beauty products in a way that emphasizes functionality rather than traditional makeup terminology.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Micro-influencers can be more effective for niche products, as they often have a more engaged and loyal following.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

The influencer ecosystem is evolving, and there's a need for fresh approaches to marketing and collaboration.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Creating a brand for seniors presents a unique opportunity, as this demographic is often overlooked in the market.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

A common reason brands fail is compromising on quality for speed; maintaining high standards is crucial for long-term success.

NK

Nikhil Kamath Cast

10/07/23

@ Nikhil Kamath

Establishing a checklist of essential details can help prevent mistakes when launching a brand, especially for solo founders.

Ep #11 | WTF Goes into Building a Fashion, Beauty, or Home Brand? Nikhil w/ Kishore, Raj, and Ananth

Takeaways